Yesterday at a glance: after ending Tuesday at $45.9, Essential Utilities went up to $46.76 only to drop back to its starting point and close at $45.31.
- Daily trading volume (1.39 million shares) increased, making up 117% of the 21-day average (1.19 million).
- Yesterday's fall added to a 27 day bearish run, during which Essential Utilities lost $6.47.
With the opening bell 11 hours away, yesterday's session was noteworthy in that Nasdaq fell 1.79% and reached 11,220. Essential Utilities closed lower yesterday, with similar drops noticed throughout the Utilities sector (down 1.23%).
Having set a significant high of $53.69 3 months ago, Essential Utilities is trading 10.82% lower. The Nasdaq has been doing worse in 2022, it has been passing it by 25.81%. The company has a market cap of $11.88 billion with an average daily trading volume of 1.19 million shares. Essential Utilities last reported revenue of $448.76 million with an EPS of 31 cents.
Fundamental analysis shows that Essential Utilities is retaining its 'Buy' rating as of now.
An interesting indicator is the debt-to-equity (D/E) ratio. It helps investors evaluate the financial leverage of a company, signaling just how much the shareholder’s equity can fulfill obligations to creditors should the business encounter financial hardship. After analyzing Essential Utilities's indicators, the company's D/E was found to be the most significant. It has improved from 1.1, is above the sector average, and has a solid 0.01. Free cash flow is also worth noting with a value of 127.28 million, which is slightly greater than industry standard and shows an improvement over the preceding value of -123.71 million.
While some of Essential Utilities's indicators have improved and others have not (in comparison to recent reports), the stock's fundamentals remain slightly above the competition.
Concerning technical analysis and more specifically, trend indicators, Essential Utilities, Inc. made an initial break below its 5 day Simple Moving Average at $46, a possible indication of a forthcoming negative trend. According to momentum evaluation, the Relative Strength Index indicates Essential Utilities is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. Analysis based on the asset volatility indicates that Essential Utilities's lower Bollinger band is at $44.29, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Support/Resistance levels obtained from chart analysis indicate that Essential Utilities could begin to recover as it approaches significant support, now 50 cents away from $44.81. Dipping below could be an indication that further losses are ahead.
All in all, the technical analysis suggests Essential Utilities has no clear-cut direction.
Essential Utilities was not the only decliner in the utilities sector; NextEra Energy went down to $83.97, losing 2% after it closed at $85.69 yesterday.
Following a flat day today, Nuance Communications closed at $56 continuing its recent flat trend
A quiet day for Nuance Communications as it remained range-bound within a $55.98 – $56 range before closing at $56.
- Nuance Communications has been pretty quiet for the last a month, trading mostly flat and moving by only 1.16 cents on average.
With around 17 hours until market open on the NASDAQ, today's session saw to it that Nasdaq shed 0.25% and closed at 11,149. While Nuance Communications was flat, the Technology sector as a whole fell 0.125%.
When analyzing Nuance Communications's indicators, the one that stands out as most significant is the company's Return on equity (ROE) with a -7%. Note that it is now below its trailing twelve-month average of -4% and below the competition average. ROE is a measure of financial performance calculated by dividing net income by shareholders' equity. This ratio gives investors an idea of how well the company handles its shareholder's money. The price to sales ratio is doing worse than the competition— it has decreased from 12.94 reported last quarter to the current 13.36. The price to book ratio is not quite as good as the industry — it has dropped from 10.05 reported last quarter to the current 11.28.
The current state of fundamentals and indicators shows that Nuance Communications's overall fundamentals are slightly below competition.
Nuance Communications, Inc.'s upper Bollinger band is at $56, suggesting that a downward move may follow. Despite this, Nuance Communications is approaching key support, around 1 cents away from $56. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests Nuance Communications is positioned for a downward move in the near term.
Meanwhile, mixed performances were seen by other technology stocks as TSM was up 2.27%. Qualcomm was up 2.06%. Oracle was up 1.48%.
Nuance Communications hit a significant low of $54.68 around 9 months ago, but has since recovered 2.4%. So far in 2022, it has been outperforming the Nasdaq by 42.87%. Nuance Communications has a market cap of $17.88 billion with an average daily volume of 15.93 million shares. Nuance Communications's last revenue report was $321.44 million with an EPS of 8 cents.
Running out of gas? Home Depot down to $287 (-0.89%)
Home Depot is down to $287, after ending yesterday at $289.56. Overall, a 0.89% loss or $2.56 today.
- Today's fall comes after a 3 day uptrend, during which Home Depot added 4% to its value
The trading session has started and S&P 500 slides to 3,736.75 — a loss of 1.43%. Dow Jones is down to 29,983 — a drop of 1.1%. Home Depot drops by 0.89%, taking a bigger fall than the Consumer Cyclical sector which is down by 1.55%.
Fundamental analysis indicates that Home Depot is holding on to its 'Buy' rating.
The price to book ratio is doing worse than the competition— it has decreased from -172.96 reported last quarter to the current 1238.74. Home Depot's recent gains have pushed its dividend yield ratio (DYR) to 2.15%, yet it is still short of its trailing twelve month average of 2.08% and has some improving to do before matching competition level. The DYR represents the percentage of a company's share price that it pays in dividends each year. For example, if a company has a 100 Dollars share price and it pays dividends that cost 10 Dollars per year, its DY would be 10%. The debt-to-equity ratio is not quite as good as the industry — it has dropped from -26.03 reported last quarter to the current 188.62. The return on equity is not quite as good as the industry — it has dropped from 2,083% reported last quarter to the current -3,166%.
In comparison to recent filings, some of Home Depot's indicators have improved and others have not, yet the stock's fundamentals remain slightly under the competition.
As the trading day commences, technical analysis suggests Home Depot could begin to recover as it approaches significant support, now $2.59 away from $284.39. Dipping below could be an indication that further losses are ahead.
Home Depot's stock value drop coincides with Toyota is trading around $137.06 (down 2%). After closing the previous session (yesterday) at $101.44, Walt Disney lost $2.18 and is trading around $99.26. After closing the previous session (yesterday) at $249.44, Tesla lost $11.49 and is trading around $237.95.
Having set a significant high of $416.18 9 days ago, the home improvement retailer is trading 8.62% lower. So far in 2022, it has been doing worse than the Dow Jones by 8.46%. The company has a market cap of $285.75 billion with an average daily trading volume of 4 million shares. Home Depot last reported revenue of $43.79 billion with an EPS of $5.05.
Eagle gains 5.12%; sets session high of $116.43
Yesterday at a glance: Eagle Materials ended Monday's session at $110.59. yesterday started with an increase to $116.43, but dropped back and closed at $116.25.
- The day's trading volume totalled 295,913 shares — slightly under the 21-day average of 348,288.
- Yesterday's gains added to Eagle Materials's 6 days uptrend, during which it increased a total of $7.31.
After hitting an important low of $103.28 approximately 8 days ago, Eagle has bounced back 7.08% since. The company has a market cap of $4.38 billion with an average daily volume of 348,288 shares. Eagle's last revenue report was $561.39 million with an EPS of $2.82.
In comparison to previous filings, some of Eagle's indicators seem to be doing better than others; its overall fundamentals are slightly under the competition average.
When analyzing Eagle Materials's indicators the one that pops out as most significant is the company's dividend yield ratio (DYR), having a solid 0.55%. Although it is currently below its trailing twelve month average of 0.35%, it is still strong and well above competition. The DYR represents the percentage of a company's share price that it pays in dividends each year. For example, if a company has a 100 USD share price and it pays dividends that cost 10 USD per year, its DY would be 10%. The dividend payout ratio is not quite as good as the industry — it has dropped from 10% reported last quarter to the current 9%. The price to book ratio is doing worse than the competition— it has decreased from 3.81 reported last quarter to the current 3.93. Price to sales ratio is not quite as good as the industry; however, it has improved from 2.62 to 2.45.
According to fundamental analysis, Eagle holds on to its 'Strong Buy' rating.
Price action remains constrained around the key Fibonacci level of $115.28 currently serving as resistance Eagle's notable support and resistance levels: Eagle is $1.17 away from testing key resistance at $117.42. Peaking above this level could inspire market bulls and open the path to further gains.
A look at other materials stocks also showed bullish price action as Linde was up 3.86%. BHP Billiton traded at $53.23 after closing yesterday's trading day at $51.66 (up 3.04%).
While Eagle Materials was bullish yesterday, the following materials stocks underperformed: BHP went down to $64.18, losing 2.43% after it closed at $65.78 yesterday.